Forex Daily Forecast, Analysis and Prediction

The gold markets initially pulled back during the trading session on Wednesday to test the 50-day EMA, only to turn around and start rallying again as we have seen multiple times over the last couple of weeks.

The Australian dollar rallied a bit during the trading session on Wednesday as we continue to see a lot of interest right around the 50-day EMA.

The Bitcoin market initially pulled back towards the 50-day EMA underneath, as we have seen a proclivity of this market to respect it.

The British pound rallied during the trading session on Wednesday but gave back the early gains.

The euro went back and forth during the trading session on Thursday in a very tight range, essentially going nowhere.

The 0.7750 area is looking pivotal.

A bearish breakdown could be strong due to latent euro weakness.

The GBP/USD is in a tight range as traders wait for the Bank of England (BoE) to deliver its interest rate decision.

The BTC/USD is in a consolidation mode as traders shift their focus to altcoins and the ongoing dealmaking in the blockchain industry.

The bulls succeeded in pushing the gold price to the level of $1799 dollars, one step away from the psychological resistance of $1800.

The GBP/USD continued its attempt to make up for recent losses by moving to the 1.3915 resistance level before settling around 1.3885 at the beginning of trading on Wednesday.

The 110.00 psychological peak remains a crucial target for bull to continue the USD/JPY's recent upward correction.

For three trading sessions in a row, the EUR/USD is moving in a downward correction range amid profit-taking selling.

The USD/CAD remains near important long-term support levels, and intriguingly yesterday’s price action may be another signal for bearish momentum.

The USD/BRL remains within a rather consolidated range which refuses to produce a significant breakout.